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Is Carney Still in Control on Interest Rates Path?

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Mark Carney has recent history on his side as he faces up to the biggest challenge of his leadership of the Bank of England and tries to keep interest rates at their record low.

Speculation mounted last week that the Canadian’s grip on decision-making at the BoE was weakening when chief economist Andy Haldane said he might break ranks and join other dissenters who voted this month for Britain’s first rate hike in a decade.

Sterling rose and yields on two-year British government bonds, which are sensitive to the short-term view on BoE rates, hit their highest levels in seven months on Monday, building on a sharp rise last week.

Reuters

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Craig Erlam

Craig Erlam

Former Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary.

His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News.

Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
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